Daily Digest

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Daily Digest 10/18 - Financial Repression Now In Play, End Is Near For Cheap NJ Gas

Tuesday, October 18, 2016, 9:09 AM

Economy

Financial Repression Is Now "In Play" (reflector)

As our western society continues to consume more than it produces, productivity is not increasing at the rate that justifies the developed nations standard of living as well as the current levels of equity markets. A possible corrective draw-down to the degree shown in this chart is simply “out of the question”! The central bankers acutely aware of this.

A recession is coming — so hide in gold, says influential investor Raoul Pal (lambertad)

But Pal does have some prominent company: Savita Subramanian, Bank of America’s head of equity strategy, recently predicted the same; Janus Capital’s Bill Gross spoke of a lagging U.S. recovery in his September investment note; and bond investor Jeffrey Gundlach showed a chart during a recent webcast that revealed the start of a recession. And Wilbur Ross sees one coming in 18 months.

How Putin Won Crimea And Lost Ukraine (jdargis)

How would you describe the divisions in Ukraine? From a distance it seems like an unusually divided country, in terms of politics, language, etc.

It is and it isn’t. A large number of Ukrainians, probably the majority of Ukrainians, are bilingual, so they would speak Russian and Ukrainian. Especially in the villages and the countryside, there’s a mishmash language which is a combination of the two. Often what happens is that you’ve got people who identify themselves as Ukrainian and speak Ukrainian, and then people who identify themselves as Russian and speak Russian.

The U.S. Has Been Meddling In Other Countries’ Elections For A Century. It Doesn’t Feel Good. (jdargis)

The Clinton camp disagrees that whatever happened in Honduras is on the same level as what Russia is up to. “There’s simply no equivalency here,” said Clinton spokesperson Jesse Lehrich. Which is true: the U.S. has meddled in far more foreign elections than vice versa.

The U.S. penchant for meddling in Latin American politics is something Sanders and Clinton disagreed sharply about in a March debate. “I think the United States should be working with governments around the world, not get involved in regime change,” Sanders said. “And all of these actions, by the way, in Latin America, brought forth a lot of very strong anti-American sentiments.”

New Jersey Is Known for Cheap Gas. The Glory Days Are About to End. (jdargis)

The added revenue will go toward repairing the state’s ailing infrastructure and refilling the Transportation Trust Fund, whose depletion had led the governor to order the emergency shutdown of hundreds of projects to improve roads, bridges and rails.

Why Algeria Will Be A Key Part Of Any OPEC Deal (Josh O.)

Vladimir Putin has mentioned how eager Russia is to work with OPEC on their oil production freeze. Other Russian leaders, however, weren’t as stoked. Igor Sechin, Vice-Chairman of the Board of Directors for state-owned oil company Rosneft and close ally of Putin’s, shared a different opinion. At the WEC, he questioned why Russia should participate and potentially detriment from the deal. On October 7th, Energy Minister Alexander Novak also opposed the notion that this deal will succeed. The lack of agreement from the leading nation in energy exports shows there’s still much to discuss.

Second generation EM drive is just around the corner, patent made public on Friday (Arthur Robey)

No gas? No problem.

British conspiracy theorist, 39, is found dead on a sofa in Poland, days after texting: 'If anything happens to me, investigate' (Arthur Robey)

Vanessa said in a recent interview that Max was 'exposing' who was 'dangerous in the world of government [and] the entertainment world.'

He lived in America for a few years, but had returned to the city to stay with his mother, before jetting off to Poland.

Gold & Silver

Click to read the PM Daily Market Commentary: 10/17/16

Provided daily by the Peak Prosperity Gold & Silver Group

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11 Comments

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4240
Oil industry needs $10 trillion to meet coming demand, says OPEC

Oil industry needs $10 trillion to meet coming demand, says OPEC's ...

MarketWatch-16 minutes ago
The global oil industry needs an astronomic investment injection over the next two ... Barkindo said the recent oil crash has already taken a serious toll on ...

 

sskauai's picture
sskauai
Status: Member (Offline)
Joined: Aug 13 2011
Posts: 1
Energy crisis

Rather than a $10 Trillion investment in Oil industry, how about investing in infrastructure changes needed for a rapidly advancing Solar Energy Future. With the exponential growth of Solar usage the Fossil Fuel industry can become much less relevant. Let`s follow the Science into a Clean Energy Future!

Kurzweil and his understanding of Future Scientific trends looks pretty reliable.

cmartenson's picture
cmartenson
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Joined: Jun 7 2007
Posts: 5979
Re: Energy Crisis
sskauai wrote:

Rather than a $10 Trillion investment in Oil industry, how about investing in infrastructure changes needed for a rapidly advancing Solar Energy Future. With the exponential growth of Solar usage the Fossil Fuel industry can become much less relevant. Let`s follow the Science into a Clean Energy Future! Kurzweil and his understanding of Future Scientific trends looks pretty reliable.

 

I personally find Ray's glib "just seven more doublings to 100%" schtick to be amusingly ignorant of manufacturing realities, but also dangerous in that it misleads people whose inner belief systems are not ready to confront the actual enormity of the energy predicament we face.

Yes, it's comforting to hear a so-called expert blithely dismiss the actual challenges as a mere matter of seven more full doublings.

It's quite another to note that 2016 won't see anything close to a rate of growth that could justify such a position: Global Solar PV Market to Grow 21% in 2016 http://247wallst.com/energy-economy/2016/05/02/global-solar-pv-market-to...

And it's still another thing to note where we actually really are in this story:

To orient yourself properly, that thin yellow smear at the top is the combined contributions of wind and solar to the global energy mix So far.  Yes they could grow, but please note that vast amounts of fossil fuels are required to grow that top line.

I would love NOTHING MORE than to go to a clean energy future!  But...there are realities involved and we'd do ourselves a favor by addressing those head on, with clear vision, and no bullshitting.

It won't be easy.

There will be changes and even sacrifices. 

Humans have NEVER transitioned from a more concentrated form of energy to a less concentrated form.  Where it's easy to move up the concentration curve because the old energy source subsizdies the next, going down the energy ladder will be far more difficult, more capital intensive, and we would do well to give that the proper respect it deserves.

TechGuy's picture
TechGuy
Status: Gold Member (Offline)
Joined: Oct 13 2008
Posts: 453
It would take between $600

It would take between $600 Trillion and $1 quadrillion to replace fossil fuels with PV and Wind. It has taken about 150 years for the world to build & support the existing infrastructure based on Fossil fuels. If we switched our economy to a WW2 crisis mode and focused on replacing all fossil fuel consumption with PV and wind it still would take more than 50 years to complete.

That said, that will never  happen, especially with the massive democraphic cliff that is just beginning as the Boomer generation starts leaving the workforce and start collecting entitlements and pensions. Expect taxes to soar as gov't must increase revenue to pay for soaring outlays. 

The only sensible option is to avoid dependance on the system for yourself and family. That means relocating rural so you have sufficient land and resources to provide your own food and energy needs, and distance yourself from the angry population as the crisis grows. This cannot be accomplished living in a urban or suburb area since regulations, high property taxes, as well increasing crime will make it impossible. You can already see the potential of crime growing exponentially as we've see a number of violent riots in US cities (Dallas, Milwaukee, Charlotte, Baltamore, etc). These events will become the norm as the economy continues to deteriate.

 

New_Life's picture
New_Life
Status: Gold Member (Offline)
Joined: Apr 18 2011
Posts: 396
UFOs????

Surprised about the news on Max Spiers here.

As tragic an event as a loss of life is, does this news story have strong relevance with the Ethos of this site?

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4240
One month....$245 billion in added debt

The Daily History of the Debt Results

Historical returns from 09/17/2016 through 10/17/2016

The data for the total public debt outstanding is published each business day. If there is no debt value for the date(s) you requested, the value for the preceding business day will be displayed.

( Debt Held by the Public vs. Intragovernmental Holdings )

Date Debt Held by the Public Intragovernmental Holdings Total Public Debt Outstanding
09/16/2016 14,134,070,557,269.95 5,376,840,268,360.75 19,510,910,825,630.70
09/19/2016 14,133,906,537,110.20 5,384,219,037,898.21 19,518,125,575,008.41
09/20/2016 14,134,013,581,265.37 5,390,322,314,277.66 19,524,335,895,543.03
09/21/2016 14,135,524,440,618.49 5,381,932,513,633.92 19,517,456,954,252.41
09/22/2016 14,133,281,357,263.35 5,386,189,719,305.37 19,519,471,076,568.72
09/23/2016 14,133,690,092,042.80 5,391,072,885,676.82 19,524,762,977,719.62
09/26/2016 14,133,540,381,801.80 5,396,048,120,946.87 19,529,588,502,748.67
09/27/2016 14,133,914,249,908.12 5,402,940,266,373.59 19,536,854,516,281.71
09/28/2016 14,134,459,589,754.46 5,385,472,778,092.82 19,519,932,367,847.28
09/29/2016 14,148,919,195,185.48 5,383,971,038,667.69 19,532,890,233,853.17
09/30/2016 14,173,423,516,895.82 5,400,021,197,040.97 19,573,444,713,936.79
10/03/2016 14,169,562,468,883.59 5,473,387,273,677.92 19,642,949,742,561.51
10/04/2016 14,170,607,259,402.13 5,488,853,387,758.70 19,659,460,647,160.83
10/05/2016 14,170,897,492,757.91 5,492,514,005,039.49 19,663,411,497,797.40
10/06/2016 14,191,998,688,412.48 5,496,774,917,705.06 19,688,773,606,117.54
10/07/2016 14,192,019,528,044.50 5,495,404,952,914.64 19,687,424,480,959.14
10/11/2016 14,191,727,340,124.70 5,502,589,257,087.44 19,694,316,597,212.14
10/12/2016 14,192,469,293,335.61 5,496,212,562,862.46 19,688,681,856,198.07
10/13/2016 14,225,008,508,056.12 5,495,822,314,247.37 19,720,830,822,303.49
10/14/2016 14,224,929,303,468.67 5,496,689,254,335.10 19,721,618,557,803.77
10/17/2016 14,250,368,582,399.09 5,505,195,434,753.88 19,755,564,017,152.97

 

Arthur Robey's picture
Arthur Robey
Status: Diamond Member (Offline)
Joined: Feb 4 2010
Posts: 3936
does this news story have

 does this news story have strong relevance with the Ethos of this site

Incredulity is not an argument. 

As a species in extremis it would be suicidal not to explore every angle. We cannot allow ourselves the luxury of Dogma. Dogma is what you get when you are certain of something ie​ the sun goes round the earth.

The odd nature of this young mans Death while in the peak of fitness and with two small children tells me that there is a secret there worth killing for. 

What is it? Until you know with a modicum of certainty, then of cause we must investigate as though our civilization depended on it.

You can bet your bottom dollar that the spooks are just as interested as we should be. 

robie robinson's picture
robie robinson
Status: Diamond Member (Offline)
Joined: Aug 25 2009
Posts: 1223
Being fleeced?

Arthur Robey's picture
Arthur Robey
Status: Diamond Member (Offline)
Joined: Feb 4 2010
Posts: 3936
Amazing effect.

I'm still trying to find how it's done.

Mots's picture
Mots
Status: Silver Member (Offline)
Joined: Jun 18 2012
Posts: 198
Second generation EM drive is just around the corner, patent....

This is a SOLAR POWER application.  Solar electric energy obtained by solar cells on a satellite/spaceship is used to make microwaves, that bounce between surfaces of  the "motor" and impart kinetic energy.  The cavity has a high "Q" (bouncing is efficient).  The energy input is from solar panels.

The article is misleading and sounds fraudulent: there was NO patent issued last week.  Instead  a WISH for a patent was published.  The wish describes enhanced efficiency of a previously described solar electric based motor using supercooling.  The cited website unfortunately makes crazy assertions about what a patent document means, where in fact getting a patent office (only the UK in this case, was never applied to the U.S. PTO) to allow a stupid claim does not mean that a technology really works and will become commercially useful.

That said, the underlying technology does not violate principles of physics, unlike other stuff promoted by Robert from downunder.  The basic technology sounds good to me.  Hope to see something good come out of this solar electric application. 

Mots's picture
Mots
Status: Silver Member (Offline)
Joined: Jun 18 2012
Posts: 198
US Primary energy consumption by source

crying OMG Solar electric cannot power the 150kw motors used by North Americans in their big cars. So solar electric, which is growing in double  digits and cheaper with good ROI than anything else on the planet and is the only new power source that is growing rapidly and can grow hundreds of fold  eventually cannot make a difference and keep our stupid profligacy going.  We need to get our heads out of the spoiled N American perspective.  We drove the Chevy to the levy but the levy was dry, and dont want to accept the fact that the car-oil culture is over...... it is over.  Solar electric not only will get cheaper and greater ROI with time, but will provide  NEW and better ways to replace dirty oil   The EM drive mentioned in todays summary is representative.

The denigrating comment of solar contribution is based on U.S. profiligancy and  mostly from motor fuels. A broad perspective of humanity would reveal quite the opposite conclusion of this critical, another attack on a new proven and expanding power source.  Solar electric already is a godsend to MOST humans on this planet, who benefit greatly by having power  for lights at night and computers/cellphones during the day, courtesy of new solar  electric placements.  As we  saw in cell phones, 3rd world countries may just leapfrog the profligate energy wasting N American lifestyle and create much improved life styles based almost entirely on solar electric.  Even electrified roads (short distance electric transmission through air) is being explored.  My local county is exporting FACTORIES to 3rd world countries to make their own solar panels, because the technology has become so generic and improved.   A perspective based on an overindulged car/oil/whole house heating profligate American fast receding lifestyle and oil/gas/coal use  shown in Figure 1 is unnecessarily pessimistic.  

quote=cmartenson]

sskauai wrote:

Rather than a $10 Trillion investment in Oil industry, how about investing in infrastructure changes needed for a rapidly advancing Solar Energy Future. With the exponential growth of Solar usage the Fossil Fuel industry can become much less relevant. Let`s follow the Science into a Clean Energy Future! Kurzweil and his understanding of Future Scientific trends looks pretty reliable.

 

I personally find Ray's glib "just seven more doublings to 100%" schtick to be amusingly ignorant of manufacturing realities, but also dangerous in that it misleads people whose inner belief systems are not ready to confront the actual enormity of the energy predicament we face.

Yes, it's comforting to hear a so-called expert blithely dismiss the actual challenges as a mere matter of seven more full doublings.

It's quite another to note that 2016 won't see anything close to a rate of growth that could justify such a position: Global Solar PV Market to Grow 21% in 2016 http://247wallst.com/energy-economy/2016/05/02/global-solar-pv-market-to...

And it's still another thing to note where we actually really are in this story:

To orient yourself properly, that thin yellow smear at the top is the combined contributions of wind and solar to the global energy mix So far.  Yes they could grow, but please note that vast amounts of fossil fuels are required to grow that top line.

I would love NOTHING MORE than to go to a clean energy future!  But...there are realities involved and we'd do ourselves a favor by addressing those head on, with clear vision, and no bullshitting.

It won't be easy.

There will be changes and even sacrifices. 

Humans have NEVER transitioned from a more concentrated form of energy to a less concentrated form.  Where it's easy to move up the concentration curve because the old energy source subsizdies the next, going down the energy ladder will be far more difficult, more capital intensive, and we would do well to give that the proper respect it deserves.

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